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The Prime Minister, Shri Narendra Modi inaugurated the International Exhibition-cum-Convention Centre (IECC) complex at Pragati Maidan in New Delhi today. He also unveiled the G-20 coin and G-20 stamp. The Prime Minister also witnessed the naming ceremony of the Convention Centre as ‘Bharat Mandapam’ carried out via drone and a cultural program that was showcased on the occasion. Visioned by the Prime Minister and developed as a national project at a cost of about Rs 2700 crores, the new IECC complex at Pragati Maidan will help in promoting India as a global business destination. Addressing the gathering, the Prime Minister initiated his speech with a poem to indicate the new enthusiasm and mood of the nation. He said, “Bharat Mandapam is a call for India’s capabilities and new energy of the nation, it is a philosophy of India’s grandeur and willpower.” The Prime Minister recalled felicitating the Shramiks this morning and said that the entire nation is impressed after witnessing their hard work and dedication. He congratulated the people of Delhi as well as every Indian for Bharat Mandapam. Noting the historic occasion of Kargil Vijay Diwas, the Prime Minister paid tributes to the martyrs who laid down their lives for India during the Kargil war on behalf of the entire nation. The Prime Minister elaborated that behind the name ‘Bharat Mandapam’ there is the inspiration of ‘Anubhav Mandapam’ of Bhagwan Basaveshwara. He said that Anubhav Mandapam represented the tradition of debate and expression. He reminded that India is acknowledged as the mother of democracy. He cited many historical and archaeological instances in this regard. “This Bharat Mandapam is a beautiful gift by us Indians to our democracy as we celebrate the 75th anniversary of Independence”, he added. He said the entire world will witness India’s strides and growing stature from here when the G20 Summit takes place in a few weeks from now at the venue. Elaborating on the need for a world-class convention center in Delhi, the Prime Minister said that “In the 21st century we will have to have construction suitable for the 21st century.” The Prime Minister underlined that Bharat Mandapam will be hugely beneficial for exhibitors from all across the globe and will become a medium for conference tourism in India. He further added that Bharat Mandapam will act as a platform for showcasing the capabilities of the country’s startups, become a witness to the performance of artists and actors and provide a platform to showcase the efforts of handicraft artisans. “Bharat Mandapam will become a reflection of the Atmanirbhar Bharat and Vocal For Local campaign”, the Prime Minister remarked as he highlighted that the convention center will emerge as a stage for every sector ranging from economy to ecology and trade to technology. The Prime Minister pointed out that an infrastructure like Bharat Mandapam should have been developed decades ago. He emphasized the need to carry on creating infrastructure despite opposition from vested interests. He stressed that no society can progress by working in a fragmented manner. He said that Bharat Mandapam is an example of the far-sighted holistic working style. He explained this by informing about the steps like e-conference visa facility for more than 160 countries. The capacity of Delhi Airport has gone up to 7.5 crore yearly today from 5 crore in 2014. This will be further strengthened once Jewar Airport is operational. The Hospitality Industry in Delhi NCR also expanded considerably. This indicated a planned approach of creating an entire ecosystem for conference tourism, he said. Underlining the infrastructure developments in the capital city of New Delhi in the last few years, the Prime Minister highlighted the newly inaugurated Parliament building and said that it instills pride in every Indian. He also gave examples of monuments like the National War Memorial, Police Memorial and Baba Saheb Ambedkar Memorial. The Prime Minister reiterated that development work of office buildings surrounding Kartavya Path is underway in full swing as the Government is giving impetus to changing the work culture as well as the work environment. He also touched upon the Pradhan Mantri Sangrahalay which provides a glimpse into the lives of every Prime Minister that India has ever witnessed. He informed that the development of ‘Yuge Yugeen Bharat’ , the world’s largest museum, is coming up fast in New Delhi.. The Prime Minister stressed that we have to think big and achieve big targets in order to be developed. That is why, he said, “India is moving ahead with the principle of ‘Think Big, Dream Big, Act Big’”. He continued “We are creating bigger, better and faster”. He talked about the World’s biggest Solar-wind park, the highest rail bridge, the longest tunnel, the highest motorable road, the biggest cricket stadium, the world’s tallest statue, and Asia’s second-largest railroad bridge in India. He mentioned the strides in green hydrogen, “The entire nation is witness to the pillars of development of the present government’s this term and the previous term”, the Prime Minister remarked as he affirmed that the development journey of India is now unstoppable. Shri Modi underlined that India was the 10th largest economy in the world when the present government came to power in 2014, but as of today, India is the 5th largest economy in the world. As per track record, the Prime Minister assured that India’s name will be among the top 3 economies of the world in the third term. “This is Modi’s guarantee”, he asserted. The Prime Minister also assured the citizens that in the third term, the pace of the development journey of India will increase manifold and the citizens would see their dreams come true. The Prime Minister said that today India is witnessing a revolution of rebuilding as in the last 9 years, 34 lakh crore rupees were spent on the creation of infrastructure. This year too, capital expenditure is kept at 10 lakh crore, he informed. India is working at an unprecedented speed and scale. He said that in the last 9 years, electrification of 40 thousand km of railway lines took place as compared to just 20 thousand in the seven decades before that. Before 2014, 600 meter per month metro line was laid, today 6 Km long Metro line is being laid every month. Today, the country has 7.25 km long rural roads compared to just 4 lakh km in 2014. The number of airports increased from about 70 to about 150. City Gas distribution too reached 600 cities compared to just 60 in 2014. “The New India is moving forward and overcoming all the obstacles that come in the way”, the Prime Minister said as he underlined that the government is focusing on finding permanent solutions to problems. Giving the example of PM Gatishakti Masterplan which is becoming a game-changer for social infrastructure, the Prime Minister said that it comprises more than 1600 layers of data and aims to save the country’s time and money. The Prime Minister drew attention to the era of the 1930s and said that the third decade of the last century has been critical to India’s freedom struggle where the goal was Swaraj. Similarly, the Prime Minister said, the third decade of this century is extremely crucial for India as our goal is a prosperous India, a ‘Viksit Bharat’. The Prime Minister reiterated that it was the result of the Swaraj movement that India gained independence. “Now in this third decade, we have a target of ‘Viksit Bharat’ for the next 25 years”, the Prime Minister said as he invigorated the citizens to realise the dreams of every freedom fighter. Speaking by experience, the Prime Minister said that he has witnessed many achievements unfolding before him and is aware of the nation’s strengths. “India can become a developed country! India can eliminate poverty”, the Prime Minister said. Citing a report by Niti Aayog, the Prime Minister informed that 13.5 crore people have come out of poverty in India in just 5 years. He also reiterated that extreme poverty is going away in India as mentioned by international agencies and credited the policies made and the decisions taken by the government in the last 9 years. Emphasizing the need for clean intentions and correct policies the Prime Minister cited G-20 as an example. He said, “We did not confine G-20 to just one city or one place. We took the G-20 meetings to more than 50 cities in the country. We showcased India's diversity through this. We showed the world what is India's cultural power, what is India's heritage.” Further elaborating on the manner of the G20 Presidency, the Prime Minister concluded, “New facilities were built in many cities for G-20 meetings and old facilities were modernised. This benefited the country and the people of the country. This is good governance. We are going to make India developed by following the spirit of Nation First, Citizen First.” Union Minister for Trade and Commerce, Shri Piyush Goyal, numerous other Union Ministers and Ministers from the government and leading industry experts were present on the occasion.
Background The Prime Minister’s vision of having a world-class infrastructure for hosting meetings, conferences and exhibitions in the country has led to the conceptualization of the International Exhibition-cumConvention Centre (IECC) at Pragati Maidan. The project revamps the old and outdated facilities at Pragati Maidan and developed as a National project at a cost of about Rs 2700 crores. With a campus area of approximately 123 acres, the IECC complex has been developed as India’s largest MICE (Meetings, Incentives, Conferences, and Exhibitions) destination. In terms of the covered space available for events, the IECC Complex finds its place among the top exhibition and convention complexes in the world. The newly developed IECC complex at Pragati Maidan comprises multiple state-of-the-art facilities including Convention Centre, Exhibition halls and amphitheatre etc. The Convention Centre is developed as the centrepiece of the Pragati Maidan complex. It is a grand architectural marvel, designed to host large-scale international exhibitions, trade fairs, conventions, conferences, and other prestigious events. It is equipped with multiple meeting rooms, lounges, auditoriums, an amphitheatre and a business centre making it capable of hosting a wide range of events. Its majestic multi-purpose hall and plenary hall have a combined capacity of seven thousand people, which is larger than the seating capacity of the famous Sydney Opera House in Australia. Its magnificent Amphitheater is equipped with a seating capacity of 3,000 individuals. The architectural design of the Convention Centre building is inspired by Indian traditions and showcases India’s confidence and conviction in its past while also embracing modern facilities and way of life. The shape of the building is derived from the Shankha (conch shell), and different walls and facades of the Convention Centre depict several elements of India's traditional art and culture including ‘Surya Shakti’ highlighting India’s efforts in harnessing solar energy, ‘Zero to ISRO’, celebrating our achievements in space, Pancha Mahabhuta signifying the building blocks of universal foundation - Aakash (Sky), Vayu (Air), Agni (Fire), Jal (Water), Prithvi (Earth), among others. Also, various paintings and Tribal art forms from different regions of the country adorn the Convention Centre. Other facilities available in the Convention Centre include 5G-enabled fully Wi-Fi-covered campus, 10G Intranet connectivity, interpreter room equipped with cutting-edge technology to support 16 different languages, advanced AV systems with huge-sized video walls, building management system ensuring optimal functionality and energy efficiency, light management system with dimming and occupancy sensors, state-of-the-art DCN (Data Communication Network) system, integrated surveillance system and energy-efficient centralized air conditioning system. Further, the IECC complex features seven exhibition halls and each one serves as a versatile space for hosting exhibitions, trade fairs, and business events. The exhibition halls are designed to accommodate a diverse range of industries and showcase products and services from around the world. These state-ofthe-art structures are a testament to modern engineering and architectural prowess. The development of the area outside the IECC is also thoughtfully designed that complements the beauty of the main complex and is a testimony of the careful planning and development that has gone into this project. The sculptures, installations, and murals showcase the rich cultural heritage of India; Musical Fountains add an element of enchantment and spectacle; Water Bodies such as ponds, lakes, and artificial streams, enhance the tranquillity and aesthetics of the area. The convenience of visitors is a priority at the IECC, reflected in the provision of over 5,500 vehicle parking spaces. The ease of access through signal-free roads ensures visitors can reach the venue without any hassle. Also, the overall design prioritizes the comfort and convenience of attendees, facilitating seamless movement within the IECC complex. The development of the new IECC complex at Pragati Maidan will help in the promotion of India as a global business destination. It will also play a vital role in boosting trade and commerce, leading to economic growth and job creation. It will support the growth of small and medium enterprises by providing them with a platform to showcase their products and services on a national and international stage. It will also facilitate knowledge exchange and encourage the dissemination of best practices, technological advancements, and industry trends. IECC at Pragati Maidan epitomizes India's pursuit of economic and technological excellence in the spirit of Aatmanirbhar Bharat and is a step towards building a New India.
Source: PIB
The Indian technical textiles industry is on the cusp of a remarkable growth trajectory, with expectations to achieve a staggering US $ 50 billion within the next five years, a significant leap from its current standing at US $ 22 billion, according to textiles secretary Rachna Shah. Addressing a gathering organised jointly by FICCI, BIS, and the Ministry of Textiles, Shah highlighted the substantial progress witnessed by the technical textiles segment, both nationally and internationally. “The global technical textiles market currently stands at approximately US $ 260 billion and is projected to surge to US $ 325 billion by 2025-26. In India, we are making tremendous strides, with the current market size at US $ 22 billion. The government is unwaveringly committed to elevating it to an impressive US $ 40-50 billion in the coming five years,” asserted Shah. Shah shed light on the multifaceted approach employed by the Government, which includes a strong focus on research and development activities in the technical textile sector, encompassing fibres and the development of various applications. Additionally, the government is dedicated to establishing a well-structured skilling ecosystem to nurture a skilled workforce essential for the sector’s expansion. The secretary further stated that the Ministry is collaborating closely with various inter-ministries and departments within the Government and state governments to increase the demand and penetration of technical textiles. “One of the critical elements of the approach is focusing on standards and regulations for technical textiles as these are highly specialised products with high-performance requirements,” she added. Shah informed that apart from developing standards, it is also crucial to map the technical textiles with Harmonized System of Nomenclature (HSN) codes as it will help in tracking the trade of these products. The HSN codes are, in turn, being mapped to various regulations and standards. She emphasised that a collaborative approach between certification agencies, industry, and various government ministries will be pivotal in ensuring the success of their initiatives and the growth of the sector. To fortify the quality and compliance aspects of technical textiles, the Ministry of Textiles has already notified two quality control orders (QCOs) for 31 technical textiles, including geotextiles and protective textiles, effective 7th October. Additionally, draft QCOs for 28 items, including Agro Textiles and Medical Textiles, have been published on the World Trade Organization’s (WTO) website to seek feedback. With the strong backing of the Government and a clear vision for growth, the Indian technical textiles industry is expected to witness remarkable progress in the coming years, contributing significantly to the country’s economy and global standing in the technical textiles market.
Source: Apparel Resources
Open end spinning mills in Tamil Nadu plan to scale up yarn production to increase supplies to garment units in Tiruppur. President of Open End Spinning Mills’ Association G. Arulmozhi said in a press release that the mills supply about two lakh kg of coloured yarn to garment units in Tiruppur a day and the plan is to increase it to five lakh kg. The mills will also produce 30s and 40s count yarn that are used widely to make hosiery products. Secretary for Handlooms and Textiles, Tamil Nadu, Dharmendra Pratap Yadav and officials of the textile and handloom Department visited open end spinning mills and units that make garments with coloured yarn in Erode and Tiruppur on Monday and Tuesday. They also held discussions with the members of the Association and assured supportive measures. The open end spinning mills and MSME textile mills in the State went on strike recently demanding support from the Central and State governments as they were hit by drop in orders and lack of remunerative prices for the products.
Source: The Hindu
Inaugurating the newly built International Exhibition-cum-Convention Centre (IECC), named Bharat Mandapam, in New Delhi on Wednesday, Prime Minister Narendra Modi said that when he took charge in 2014, India was the tenth-largest economy in the world. During his second term as PM, he said, India had become the fifth-largest economy. “I want to assure that during the third tenure of our government, India will be among the top three economies of the world,” he said. The table alongside shows the top 10 economies of the world in 2014. The size of an economy is mapped by the Gross Domestic Product (GDP), which is the market value of all final goods and services produced within the geographical boundaries of a country. The GDP here is expressed in billions of US dollars.
Source: Indian express
The Emergency Credit Line Guarantee Scheme (ECLGS), which was launched post-Covid for emergency credit to MSMEs and was valid till March this year, has recorded non-performing assets (NPAs) amounting to Rs 13,233 crore as of June 30, 2023. According to the data shared by Bhagwat Karad, Minister of State in the Finance Ministry in a written reply to a question in the Lok Sabha on July 24, the bad loans constituted 5.45 per cent of the total MSME loan amount of Rs 2.42 lakh crore guaranteed under ECLGS, as per data from the National Credit Guarantee Trustee Company (NCGTC). NCGTC was the guarantee provider to member lending institutions including banks and NBFCs with respect to the credit given to borrowers on their loan outstanding as of February 29, 2020, under ECLGS. The 5.45 per cent NPAs, however, “is considered reasonable keeping in view the severity of the impact that the pandemic has had on businesses, particularly for MSME enterprises,” Karad noted in his response.Within MSME loans under ECLGS, 1.11 crore loans were to micro and small enterprises (MSEs) with guarantees amounting to Rs 1.78 lakh crore. Out of this, 18.65 lakh accounts amounting to Rs 11,341 crore were classified as NPAs. In terms of the amount, the share of NPAs constituted 6.36 per cent of total loans guaranteed for MSEs, according to the data shared. In the wake of the pandemic, the government had rolled out ECLGS in May 2020 to support eligible MSMEs and business enterprises to ease their liquidity position. The scheme offered collateral-free loans to existing eligible borrowers with a 100 per cent guarantee in respect of the eligible amount as per the scheme guidelines. As per NCGTC, Rs 2.42 lakh crore guarantees benefitted 113.75 lakh MSMEs. According to a research report in January this year by the State Bank of India on ECLGS, almost 14.6 lakh MSME accounts, of which about 98.3 per cent of the accounts were in the micro and small enterprises categories were saved from turning bad.In absolute terms, MSME loan accounts worth Rs 2.2 lakh crore had improved since the inception of ECLGS for banks. This meant that around 12 per cent of the outstanding MSME credit was saved from slipping into NPA classification due to ECLGS, Karad added. “Further, the incidence of NPAs in lending by banks, including in the MSME sector, is attributable to a number of factors, which include overall performance of the borrowing entity, macroeconomic conditions, sectoral issues, global business environment, etc.”
Source: Financial Express
Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav today moved the Forest (Conservation) Amendment Bill 2023 as reported by the Joint Committee of Parliament to be taken into consideration in Lok Sabha and subsequently requested the House to get the Bill passed. After deliberations and taking the views of Members of Parliaments, the Lok Sabha passed the Bill. The Forest (Conservation) Act, 1980, is an important Central statute for the conservation of forests in the country. It provides that the de-reservation of reserved forests, use of forest land for non-forest purpose, assigning forest land by way of lease or otherwise to private entity and clearing of naturally grown trees for the purpose of reafforestation requires prior permission of the Central Government. The applicability of the act in various types of lands has been dynamic i.e. initially provisions of the Act were being applied to the notified forest land only. Subsequently, after the Judgement dated 12.12.1996, the Act was made applicable to revenue forest land or in lands which were recorded as forest in government records and to areas which look like forest in their dictionary meaning. Many of such lands were already put to non-forestry use such as habitations, institutions, roads, etc. with the required approval of the competent authority. This situation resulted in different interpretations of the provisions of the Act with respect to their applicability specially in recorded forest lands, private forest lands, plantations, etc. It has been observed that due to apprehensions that plantations on the lands of individuals and organisations can attract the FCA, the afforestation and plantation of trees outside forests is not getting desired impetus, which in turn is becoming a hindrance in enhancing green cover to fulfil the Nationally Determined Contribution targets of creating additional carbon sink of 2.5 to 3.0 billion tons of CO equivalent. Besides this, the strategic and security related projects of national importance need to be fasttracked to ensure development of vital security infrastructures, especially along the international border areas such as Line of Actual Control (LAC), Line of Control (LoC), as also in the notified LWE areas. Similarly, small establishments, habitations on the side of roads/railways also need to be facilitated by providing them access and connectivity to main arterial roads and other public utilities. During the intervening period, after the promulgation of the Act, new challenges relating to ecological, social and environmental developments have emerged at national as well as international levels. For example mitigating the impact of climate change, achieving the national targets of Net Zero Emission by 2070, maintaining or enhancing the forest carbon stock, etc. Therefore, to carry forward the country’s rich tradition of preserving forests and their bio-diversity and to tackle the climate change challenges, it is necessary to encompass such issues in the ambit of the Act. Therefore, to achieve the country’s national as well as international commitment s of NDCs, carbon neutrality, eliminate the ambiguities and bring clarity about the applicability of the Act in various lands, promoting the plantation in non-forest land, enhancing the productivity of the forests, amendment has been proposed in the Act and the Forest (Conservation) Amendment Bill, 2023 has been moved by the Central Government. The amendments passed by the Lok Sabha include insertion of a Preamble to broaden the scope of the Act, changing the name of the Act as Van (Sanrakshan Evam Samvardhan) Adhiniyam, 1980 so as to ensure that potential of its provisions is reflected in its name, clarifying the scope of applicability of the Act in various lands to eliminate ambiguities. In addition to these amendment, certain exemptions, as proposed in the Bill, have also been passed by the Lok Sabha which include exemption of strategic projects concerning national security located within 100 km of distance from the International Borders, Line of Actual Control, Line of Control, 0.10 ha of forest land proposed to be provide connectivity to habitation and establishments located on the side of roads and railways, up to 10 ha of land proposed for security related infrastructure and up to 5 ha of forest land in Left Wing Extremism Affected Districts for public utility projects. All these exemptions considered in the Bill will be subject to such terms and conditions, including compensatory afforestation, mitigation Plans, etc., as will be specified by the Central Government. To bring uniformity, existing provisions of the Principal Act relating to assignment of forest land on lease to private entities has been extended to Government companies as well. The Bill also added new activities viz. infrastructure for frontline forest staff, ecotourism, zoo and safari into the array of forestry activities for the cause of conservation of forests. Surveys and investigation in the forest areas will not be considered as a nonforestry activity in view of the fact that such activities are temporary in nature and involve no perceptible change in the land use. The Section 6 of the Bill empowering the Central Government to issue directions for the proper implementation of the Act, has also been passed by the Lok Sabha. Elimination of ambiguities in the applicability of Act will facilitate the decisions making process on the proposals involving non-forestry use of forest land by the authorities. Exemption of such recorded forest land which have already been put to non-forestry use before 12.12.1996 by the orders of the competent authority can be used for taking benefits of various developmental schemes of the State as well as Central Government. Inclusion of more activities, as forestry activities in the Bill such as infrastructure for frontline will help to secure quick response to natural hazards in the forests. For want of enabling provisions in the Act, it is difficult to create such basic infrastructure in the forest area thereby affecting the forestry operations, regeneration activities, monitoring and supervision, prevention of forest fires, etc. These provisions will pave the way for better management of forest for improved productivity and flow of ecosystem goods and services will also add to mitigate the impact of climate change and conservation of forests. Activities like establishment of Zoo and Safaris, etc. will be owned by Government and will be set up as per the Plan approved by the Central Zoo Authority outside the Protected Areas. Similarly, ecotourism, as per approved Working Plan or Wildlife Management Plan or Tiger Conservation Plan will be taken up in the forest areas. Such facilities, besides sensitizing and generating awareness about the importance of protection and conservation of forest land and wildlife, will also add to the livelihood sources of local communities and thereby providing them opportunities to connect with the mainstream of development. The amendment proposed in the Bill as passed by the Lok Sabha will refurbish the spirit the Act for conservation and augmentation of forests. These amendments will act as a milestone in the enhancement of the productivity of forests, raising plantations outside forests and strengthening the regulatory mechanism besides catering to the livelihood aspirations of the local communities.
Source: PIB
Ministry of Skill Development and Entrepreneurship (MSDE) is implementing the Scheme of Polytechnics through Directorate General of Training (DGT). Under this scheme, Community Development Through Polytechnics (CDTP) is one of the components wherein non-formal, short-term, employment-oriented skill development programmes is provided through Polytechnics for the marginalized section of society, to enable them to obtain gainful self/wage employment. The government has revised the guidelines of CDTP in 2022-23 to include the provision of its implementation through National Skill Training Institutes (NSTIs) and Industrial Training Institutes (ITIs) and to extend the coverage to Aspirational and Border Area Districts. The government has also increased the recurring grant up to Rs. 19.72 lakhs from the existing Rs. 17.00 lakhs per polytechnic per annum under this component. The revised guidelines is available at website dgt.gov.in. The CDTP component is implemented by the State government and Union Territory Administrations through selected Polytechnics in accordance with guidelines issued by the Central government. Under the guidelines, the identified institution should target the poor and deprived sections of society in both urban and rural areas specifically women, SCs/STs, OBCs, minorities, school dropouts, street children, physically handicapped, economically weaker sections of the society and other under-privileged persons. No fee is charged from the trainees under this component and there is no restriction on the age, sex and qualification of the trainees. This information was given by the Minister of State for Skill Development and Entrepreneurship, Shri Rajeev Chandrasekhar in a written reply in the Rajya Sabha today.
Source: PIB
During Prime Minister Narendra Modi’s recent visit to the US, technology was centre-stage at several discussions. American technology companies are among the largest investors in India. During the visit, the Prime Minister met with prominent American CEOs, including Elon Musk of Tesla, Andy Jassy of Amazon, Tim Cook of Apple, Sundar Pichai of Google and David L. Calhoun of Boeing. Modi’s vision for mutually beneficial collaboration has resulted in a wave of new investment initiatives to strengthen existing partnerships in digital trade and e-commerce. For example, in alignment with India’s G20 objective of linking micro, small and medium enterprises (MSMEs) to global value chains through e-commerce platforms, Amazon announced a goal of $20 billion in cumulative e-commerce exports from India by 2025 and $125 billion by 2030. A major beneciary of this will be MSMEs. The MSME sector is a critical driver of India’s economy, contributing approximately 33% to the country’s gross domestic product (GDP) and 50% of exports. It is projected to contribute at least 60% to India’s total export goal of $2 trillion in goods and services by 2030. Recognizing the importance of MSMEs, initiatives have been implemented through the Union Budget for 2023-24 and Foreign Trade Policy (FTP) 2023 to support the participation of MSMEs in internationaltrade. For example, the FTP for the rst time had a dedicated chapter on e-commerce, outlining how exporters using this channel will get export benets. The latest FTP focuses on simplication of export procedures and reduction in clearance time, and aims to reduce compliance costs for exporters, thereby improving their competitiveness in the global market. Among other measures, it also increased the value limit on exports through courier services from ₹5 lakh to ₹10 lakh. If India has to own a larger part of the global B2C e-commerce market, valued at $5 trillion in 2019,
Source: The Live mint
The Commerce Department has started intensive industry consultations to prepare for the next round of India-EU Free Trade Agreement (FTA) negotiations in October this year in Brussels. Inputs are being sought not just on tariff issues but also non-tariff barriers and discriminatory treatment faced in the EU in terms of inspection, registration requirements, labelling, authorisation and testing, sources have said. Industry body CII has circulated questionnaires to various industry and exporters’ bodies to get feedback in multiple areas of goods, services, rules of origin, digital trade and government procurement which are expected to be taken up in the sixth round of negotiations on October 16-20. “The industry feedback will be used by the government to fine-tune its negotiating position in the sixth round where the focus will be on building convergences. It is going to be a crucial one as both sides are looking at concluding the negotiations by next year,” a source tracking the matter told businessline.
Identifying Barriers In the area of goods, where the average tariffs in the EU are low but certain items face steep tariffs, the industry has been asked to point out areas which hold growth potential. Businesses have also been asked to identify specific EU standards or regulations acting as barriers in areas ranging from registrations to testing. In services, the industry has to indicate specific EU domestic regulations, FDI policies and immigration and visa requirements which may be acting as barriers. “Since India will be venturing into discussions on digital trade, a new area, the industry has also been asked to specify interests in digital trade with the EU,” the source said.
Seeking advantages In government procurement, where EU wants commitments, India is keen on extracting advantages for its industry. The questionnaire asks businesses to identify areas where they could benefit and also the barriers they face. India and the EU are discussing an ambitious FTA which has about 21 proposed chapters. Apart from chapters on goods and services, where discussions are majorly on elimination of tariffs and liberalising flow of services through easing of regulations, the talks focus on a host of other areas. Some of the important ones are digital trade, government procurement, Intellectual Property (going beyond TRIPS agreement–ever greening of patents), anticompetitive conduct, merger control and subsidies, Stateowned enterprises, small and medium-sized enterprises, energy and raw materials and transparency.
Source: The Hindu business line
INTERNATIONAL
Texworld New York City, Apparel Sourcing New York City, and Home Textiles Sourcing, the premier fashion, apparel, and home textile sourcing tradeshow organized by Messe Frankfurt, Inc., concluded yet another successful event. The expansive co-located event welcomed thousands of attendees and 1,000 exhibitors from all over the world, uniting designers, buyers, industry professionals, global manufacturers, and suppliers under one roof, fostering invaluable connections and collaborations. The highly anticipated educational program including Textile Talks and the Lenzing Seminar Series provided visitors with valuable insights into the industry’s future. Key topics focused on innovation and sustainability, reflecting the event’s growing commitment to environmental responsibility. Participants had the opportunity to learn from and network with leading professionals to further enhance their knowledge in the ever-evolving world of fashion and textiles. Among the standout highlights were the vibrant and diverse country pavilions, which showcased the textile prowess and creativity of different regions. Pavilions from India, Korea, Turkey, and Uzbekistan offered unique insights into their respective markets and provided attendees with an opportunity to explore a rich array of textiles, fashion, and home offerings. In addition, attendees were able to explore and source from a diverse selection of sustainable materials and products from both Lenzing’s pavilion and the Lenzing Innovation Center, empowering them to make conscious choices for a greener fashion future. In addition to the country pavilions, Texworld New York City was proud to collaborate with esteemed show partners, including Printsource, Global Footwear Sourcing, and CCPIT-TEX. These valued partners played a vital role in enhancing the scope and offerings of the event, providing attendees with a comprehensive sourcing experience across multiple segments of the fashion and textile industry. “We are thrilled with the overwhelming success of Texworld New York City’s summer edition,” the event has once again proven to be a pivotal platform for the textile and apparel sourcing community, offering opportunities for networking, education, and collaboration. We extend our heartfelt gratitude to all our partners, exhibitors, and attendees for making this event remarkable experience.” – Jennifer Bacon, VP Fashion + Apparel, Messe Frankfurt, Inc. Texworld New York City and Apparel Sourcing New York City will return for the Winter 2024 Edition, scheduled for January 23-25 at the Javits Center. Home Textiles Sourcing will return Summer 2024. Stay tuned for the announcement of summer dates.
Source: Textile world
The global textile sector is facing challenges due to low demand and overcapacity, creating stress in the industry. Addressing the need for rebalancing supply and demand, embracing sustainability, and navigating regulations were among the key themes highlighted during the three-day World of Wipes conference held in Atlanta recently. The outbreak of COVID-19 compelled the spunmelt nonwovens and medical textiles industry to rapidly expand capacity and bolster production. Over the course of the two-year pandemic period, there was a notable doubling in meltblown production and an increase in spunlace products. However, the demand for single-use medical textiles declined, leading to an accumulation of excess inventory in the market. Global textile demand is moderate to low amid expected inflation slowdown. In India, the industry faces production cutbacks, with about 20 per cent of knitted and garment sectors in Tiruppur and Noida halting operations. Tamil Nadu’s cotton yarn spinning mills seek relief from Central and State governments due to a dire situation. Adapting to the current situation, inventory repurposing and exploring new markets are vital. Meanwhile, Rahul Bansal, Global Head-Nonwovens for Mumbai-based Birla Cellulose emphasised Birla Cellulose’s collaborative efforts, exemplified by a partnership with Sparkle to create viscose-based diapers, driving innovation. The industry needs collective representation to governments, focusing on sustainable products, future markets, and competitive advantages.
Source: Apparel Resources
During the second quarter of 2023, the orders index for textile machinery, as compiled by the Economics Department of ACIMIT, the Association of Italian Textile Machinery Manufacturers, dropped significantly compared to 2022 April – June 2022 period (-30%). In absolute terms, the index stood at 85.1 points (basis 2015=100). This drop is the result of a reduction in the collection of new orders recorded by manufacturers both domestically and on foreign markets. The decrease in orders in Italy amounted to 21%, whereas a 31% downtrend was observed abroad. The absolute value of the index on foreign markets settled at 81.9 points, while in Italy it stands at 117.2 points. New orders for the second quarter amounted to 4.1 months of guaranteed production. ACIMIT’s data also shows that the use of production capacity by Italian manufacturers was 70% for the first half of 2023. This percentage is expected to remain stable for the second half of the year. ACIMIT president Marco Salvadè stated that, “The orders index for the second quarter elaborated by our Economics Department clearly shows a decline in new orders both in Italy and abroad compared to the previous year. The decline that usually precedes an event such as ITMA, the international textile machinery exhibition held last June in Milan, however, is part of a negative trend that has been going on for several quarters”. Uncertainty appears to be weighing heavily especially on markets abroad, where foreign trade statistics updated to the first quarter of 2023 are marked by a slackening in Italian sales in some important reference markets, such as Turkey, China, the United States and Pakistan. Salvadè added that, “Feedback from over 400 Italian companies that took part in ITMA is positive. It’s now necessary for the many contacts made during the event to materialize and for the demand for machinery in the main textile machinery markets to resume a path towards growth.”
Source: Textile world
